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04-04-2014, 05:39 PM
China railway stocks surge as government says to speed up construction
Wed Apr 2, 2014 10:51pm EDT
(Reuters) - Shares in China's railway-related companies jumped on Thursday led by China Railway Construction Corp after the government said it would speed up the construction of railway lines.
The cabinet said after its weekly meeting that it will accelerate the construction of rail projects that have been approved, and increase the length of lines being laid this year by 18 percent compared with 2013.
China Railway Construction Corp's Hong Kong-listed shares soared 9 percent.
China CNR Corp Ltd, the country's second-largest listed train maker, climbed 1.9 percent in Shanghai, while bigger rival CSR Corp Ltd gained 4 percent in Hong Kong.
Transportation infrastructure company China Communications Construction Co Ltd climbed 4 percent compared with a 0.4 percent gain in the benchmark Hang Seng Index.
Wed Apr 2, 2014 10:51pm EDT
(Reuters) - Shares in China's railway-related companies jumped on Thursday led by China Railway Construction Corp after the government said it would speed up the construction of railway lines.
The cabinet said after its weekly meeting that it will accelerate the construction of rail projects that have been approved, and increase the length of lines being laid this year by 18 percent compared with 2013.
China Railway Construction Corp's Hong Kong-listed shares soared 9 percent.
China CNR Corp Ltd, the country's second-largest listed train maker, climbed 1.9 percent in Shanghai, while bigger rival CSR Corp Ltd gained 4 percent in Hong Kong.
Transportation infrastructure company China Communications Construction Co Ltd climbed 4 percent compared with a 0.4 percent gain in the benchmark Hang Seng Index.